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Economy of Malaysia vs Maldives compared: GDP & Debt

Updated on by Georank team

Malaysia has a GDP of $422B compared to $7.06B for Maldives, ranking 38/197 and 159/197 by economy size, respectively.

Malaysia has $296B in government debt (70.1% of GDP), compared to $9.41B (133.3% of GDP) in Maldives.

Malaysia vs Maldives GDP by year

Malaysia
Maldives
1x
Year GDP, current $
Malaysia Maldives
2024 $422,227,005,429 $7,061,608,267
2023 $399,949,418,753 $6,621,008,704
2022 $407,830,525,990 $6,177,123,352
2021 $373,784,553,030 $5,252,457,370
2020 $337,456,163,961 $3,712,604,583
2019 $365,177,721,022 $5,726,094,799
2018 $358,788,845,713 $5,404,344,163
2017 $319,109,094,160 $4,816,426,257
2016 $301,256,033,870 $4,409,942,624
2015 $301,355,266,965 $4,129,505,319
2014 $338,066,095,097 $3,697,353,039
2013 $323,276,235,524 $3,295,009,238
2012 $314,443,047,642 $2,886,163,997
2011 $297,951,668,675 $2,774,350,240
2010 $255,017,638,456 $2,588,176,055
2009 $202,257,453,037 $2,345,294,875
2008 $230,811,614,370 $2,271,646,188
2007 $193,549,569,478 $1,868,383,461
2006 $162,692,258,307 $1,575,200,391
2005 $143,534,405,819 $1,163,362,438
2004 $124,749,473,684 $1,226,829,563
2003 $110,202,368,421 $1,052,121,055
2002 $100,845,526,316 $897,031,250
2001 $92,783,947,368 $870,031,677
2000 $93,789,736,842 $624,337,145
1999 $79,148,421,053 $589,239,754
1998 $72,167,498,981 $540,096,398
1997 $100,005,323,302 $508,223,602
1996 $100,855,393,910 $450,382,328
1995 $88,705,342,903 $398,988,955
1994 $74,478,356,958 $356,014,932
1993 $66,894,966,969 $322,417,837
1992 $59,167,550,163 $284,875,809
1991 $49,143,148,094 $244,396,762
1990 $44,024,585,240 $215,043,970
1989 $38,847,965,293 $189,514,434
1988 $35,272,109,220 $168,514,513
1987 $32,181,210,158 $141,223,029
1986 $27,734,111,400 $141,882,254
1985 $31,199,633,353 $127,190,758
1984 $33,942,897,422 $109,503,546
1983 $30,347,442,111 $57,829,787
1982 $26,804,493,635 $47,911,340
1981 $25,004,285,792 $44,781,457
1980 $24,488,224,677 $42,463,576
1979 $21,213,264,962 $38,523,364
1978 $16,358,079,862 $24,369,109
1977 $13,139,488,633 $20,853,789
1976 $11,050,234,599 $22,399,467
1975 $9,298,800,799 $24,540,878
1974 $9,496,204,302 $39,120,171
1973 $7,662,902,678 $30,862,042
1972 $5,043,347,250 $25,177,138
1971 $4,244,395,956 $21,566,404
1970 $3,864,145,667 $19,328,038
1969 $3,664,552,041 -
1968 $3,330,371,551 -
1967 $3,188,924,677 -
1966 $3,143,517,944 -
1965 $2,956,337,669 -
1964 $2,674,423,922 -
1963 $2,510,110,348 -
1962 $2,001,489,602 -
1961 $1,901,856,123 -
1960 $1,916,229,477 -

Data sources: World Bank | Economy & Growth (1960–2024, retrieved 2026-04-06).

GeoRank.org/economy/malaysia/maldives | CC BY

GDP per capita in Malaysia vs Maldives by year

Malaysia
GDP per capita

GDP per capita, PPP
Maldives
GDP per capita

GDP per capita, PPP
1x
Year Current $
Malaysia Maldives
GDP per capita GDP per capita, PPP GDP per capita GDP per capita, PPP
2024 $11,874 $38,779 $13,379 $26,183
2023 $11,386 $36,467 $12,588 $24,786
2022 $11,755 $34,420 $11,786 $22,881
2021 $10,903 $29,823 $10,176 $19,053
2020 $9,958 $27,475 $7,394 $13,425
2019 $10,920 $28,934 $11,740 $23,077
2018 $10,902 $27,794 $11,423 $21,899
2017 $9,863 $26,416 $10,510 $19,768
2016 $9,477 $25,286 $9,948 $18,770
2015 $9,649 $24,526 $9,645 $17,875
2014 $11,013 $24,307 $8,939 $16,723
2013 $10,714 $23,161 $8,236 $15,264
2012 $10,601 $22,639 $7,461 $13,989
2011 $10,217 $21,324 $7,425 $13,726
2010 $8,899 $20,193 $7,174 $12,797
2009 $7,191 $18,923 $6,734 $12,266
2008 $8,372 $19,480 $6,757 $13,779
2007 $7,169 $18,617 $5,758 $12,852
2006 $6,158 $17,426 $5,019 $12,075
2005 $5,556 $16,371 $3,797 $9,704
2004 $4,939 $15,416 $4,070 $10,770
2003 $4,465 $14,387 $3,549 $10,065
2002 $4,184 $13,656 $3,076 $8,823
2001 $3,944 $13,072 $3,034 $8,236
2000 $4,084 $13,027 $2,214 $8,526
1999 $3,528 $11,980 $2,124 $8,162
1998 $3,294 $11,398 $1,980 $7,710
1997 $4,679 $12,469 $1,898 $7,226
1996 $4,837 $11,709 $1,717 $6,687
1995 $4,363 $10,720 $1,555 $6,223
1994 $3,758 $9,806 $1,419 $5,520
1993 $3,462 $9,018 $1,317 $5,138
1992 $3,141 $8,224 $1,194 $4,881
1991 $2,679 $7,583 $1,054 $4,604
1990 $2,469 $6,887 $957 $4,528
1989 $2,244 - $870 -
1988 $2,100 - $799 -
1987 $1,977 - $692 -
1986 $1,760 - $720 -
1985 $2,046 - $669 -
1984 $2,300 - $594 -
1983 $2,124 - $323 -
1982 $1,938 - $274.8 -
1981 $1,866 - $264.1 -
1980 $1,886 - $257.6 -
1979 $1,680 - $240.2 -
1978 $1,327 - $156.1 -
1977 $1,092 - $137.3 -
1976 $940 - $151.8 -
1975 $811 - $171.4 -
1974 $848 - $281.5 -
1973 $701 - $228.7 -
1972 $472 - $192.2 -
1971 $407 - $169.8 -
1970 $380 - $156.9 -
1969 $368 - - -
1968 $342 - - -
1967 $335 - - -
1966 $339 - - -
1965 $326 - - -
1964 $303 - - -
1963 $291.8 - - -
1962 $238.8 - - -
1961 $232.9 - - -
1960 $240.8 - - -

Data sources: World Bank | Economy & Growth (1960–2024, retrieved 2026-04-06).

GeoRank.org/economy/malaysia/maldives | CC BY

Malaysia's GDP per capita is $11,874, ranking 79/197, compared to $13,379 in Maldives, ranking 75/197. Adjusted for purchasing power (GDP per capita PPP), Malaysia ranks 60th at $38,779, while Maldives ranks 81st at $26,183.

Economic indicators

Malaysia Maldives
Gross domestic product
$422B
2024
$7.06B
2024
GDP rank
38/197
2024
159/197
2024
GDP growth
5.11%
2023-2024
3.49%
2023-2024
GDP per capita
$11,874
2024
$13,379
2024
GDP per capita rank
79/197
2024
75/197
2024
GDP per capita, PPP
$38,779
2024
$26,183
2024
GDP per capita PPP rank
60/197
2024
81/197
2024
Government debt
$296B
2024
$9.41B
2024
Debt-to-GDP ratio
70.1%
2024
133.3%
2024
Government debt per person
$8,322
2024
$17,837
2024
Government debt per person rank
62/185
2024
35/185
2024
Average annual personal income after taxes
$11,005
2026
$9,909
2026
Market capitalization of domestic companies
$449B
2024
n/a
Number of billionaires
19
2025
n/a
Income share by richest 10%
30.9%
2021
23.3%
2019
Income share by poorest 10%
2.3%
2021
3.8%
2019
Government expenditure, % of GDP
23.9%
2024
46.1%
2024
Consumer prices inflation
1.83%
2023-2024
1.4%
2023-2024
Central bank interest rate
2.75%
2025
n/a
Unemployment rate
3.93%
2022
4.56%
2019
Population
36512221
532057

Spending and national debt comparison by year

Malaysia
Spending

Debt
Maldives
Spending

Debt
1x
Year % of GDP
Malaysia Maldives
Government spending Government debt Government spending Government debt
2024 23.9% 70.1% 46.1% 133.3%
2023 24.9% 69.7% 46.7% 122.4%
2022 24.6% 65.5% 42% 111.6%
2021 24.5% 69.2% 40.6% 123.4%
2020 25% 67.7% 50.4% 155.7%
2019 23.6% 57.1% 32.9% 77.2%
2018 22.8% 55.6% 31.9% 70.7%
2017 22% 54.4% 30.4% 63.8%
2016 22.9% 55.8% 37.3% 61.9%
2015 24.7% 57% 33.8% 54.8%
2014 26% 55.4% 29.1% 55.1%
2013 27.8% 55.7% 27% 55.9%
2012 28.5% 53.8% 29.8% 57.1%
2011 27.1% 51.9% 31.3% 51.9%
2010 26.6% 51.2% 33.2% 52.7%
2009 30.9% 50.4% 37% 48.4%
2008 26.9% 39.4% 35.6% 39%
2007 25.9% 39.3% 34.8% 35.8%
2006 25.6% 39.7% 35% 36.8%
2005 24.5% 40.8% 38.8% 43.2%
2004 25.9% 42% 24.1% 34.7%
2003 28.1% 41.4% 26.4% 37.6%
2002 27.1% 39.5% 29.6% 44.3%
2001 28.2% 38.1% 29.6% 41.8%
2000 25.6% 32.5% 29% 39%
1999 24.6% 34.4% 28% 38.9%
1998 23.1% 33.6% 25.9% 39.3%
1997 21.2% 29.6% 25.2% 38.1%
1996 22.4% 32.8% 27.3% 46.9%
1995 22.6% 38.2% 31.3% 52.2%
1994 23.3% 43.7% 30.7% 54.6%
1993 24.6% 51.1% 34.7% 55.7%
1992 28.2% 59.1% 36.1% 49%
1991 27.4% 67.3% 37.7% 46.7%
1990 30.5% 74.1% 33.3% 42.4%

Data sources: International Monetary Fund (IMF) | Fiscal Monitor (1990–2024, retrieved 2026-02-20); International Monetary Fund (IMF) | Public Finances in Modern History (1990–1996, retrieved 2026-02-20).

GeoRank.org/economy/malaysia/maldives | CC BY

In 2024, Malaysia's government spending was $101B, accounting for 23.9% of its GDP, while Maldives spent $3.25B, or 46.1% of GDP.

Debt-to-GDP ratio is 70.1% in Malaysia and 133.3% in Maldives, ranking 58/185 and 10/185, respectively.

Government deficit by year

Deficit/surplus
Malaysia

Maldives
1x
Year Deficit/surplus, % of GDP
Malaysia Maldives
2024 -3.95% -13.9%
2023 -3.97% -13.2%
2022 -4.56% -11.2%
2021 -6.03% -14.2%
2020 -4.9% -23.7%
2019 -2.01% -6.54%
2018 -2.64% -5.17%
2017 -2.41% -3.02%
2016 -2.6% -9.93%
2015 -2.55% -6.52%
2014 -2.63% -2.42%
2013 -3.48% -3.49%
2012 -3.1% -6.91%
2011 -3.57% -8.13%
2010 -4.32% -13.6%
2009 -5.88% -17.9%
2008 -3.4% -9.92%
2007 -2.57% -3.16%
2006 -2.6% -4.52%
2005 -2.83% -7.81%
2004 -3.35% -2.26%
2003 -4.6% -3.45%
2002 -3.96% -3.97%
2001 -4.36% -3.97%
2000 -6.05% -3.89%
1999 -3% -3.03%
1998 -0.63% -2.25%
1997 4.84% -1.46%
1996 3.27% -2.01%
1995 3.1% -5.66%
1994 5.45% -4.82%
1993 3.44% -13.9%
1992 1.81% -12.6%
1991 1.6% -10.2%
1990 0.15% -12.8%

Data sources: International Monetary Fund (IMF) | Fiscal Monitor (1990–2024, retrieved 2026-02-20).

GeoRank.org/economy/malaysia/maldives | CC BY

In 2024, Malaysia's government deficit, the difference between spending and revenue, was $16.7B, equivalent to 3.95% of GDP. This compares to Maldives' deficit of $982M, or 13.9% of GDP.

Over the past 35 years, Malaysia recorded a fiscal deficit in 27 of those years, while Maldives ran a deficit in 35 years. On average, Malaysia posted an annual deficit equal to 2.07% of GDP, compared to deficit of 7.75% of GDP for Maldives.

Inflation comparison by year

Inflation
Malaysia

Maldives
1x
Year Consumer prices inflation
Malaysia Maldives
2024 1.83% 1.4%
2023 2.49% 2.6%
2022 3.38% 2.6%
2021 2.48% 0.2%
2020 -1.14% -1.6%
2019 0.66% 1.3%
2018 0.88% 1.4%
2017 3.87% 2.3%
2016 2.09% 0.8%
2015 2.1% 1.4%
2014 3.14% 2.4%
2013 2.11% 4%
2012 1.66% 10.9%
2011 3.17% 11.3%
2010 1.62% 6.1%
2009 0.58% 4.5%
2008 5.44% 12%
2007 2.03% 6.8%
2006 3.61% 3.5%
2005 2.98% 2.5%
2004 1.42% 6.3%
2003 1.09% -2.8%
2002 1.81% 0.9%
2001 1.42% 0.7%
2000 1.53% -1.2%
1999 2.74% 3%
1998 5.27% -1.4%
1997 2.66% 7.6%

Data sources: International Monetary Fund (IMF) | World Economic Outlook (1997–2024, retrieved 2026-02-20); World Bank | Economy & Growth (1997–2024, retrieved 2026-04-06).

GeoRank.org/economy/malaysia/maldives | CC BY

Over the past 28 years, Malaysia has recorded an average annual inflation rate of 2.25%, compared with 3.2% in Maldives. In 2024, inflation was 1.83% in Malaysia and 1.4% in Maldives.

Top exports between countries

Malaysia
Export category Export value
Raw materials & minerals $74.4M
Processed food, beverages & tobacco $41M
Wood & paper products $20M
Chemicals & pharma $15.6M
Machinery & equipment $15.2M
Textiles & consumer goods $9.42M
Metals $5.73M
Miscellaneous $3.58M
Animal & marine products $2.15M
Raw agricultural goods $811K
Maldives
Export category Export value
Processed food, beverages & tobacco $57K
Animal & marine products $49K
Metals $13K
Raw materials & minerals $13K
Chemicals & pharma $11K
Machinery & equipment $11K

Balance of trade

Malaysia Maldives
Current account balance
$7.15B
2024
-$1.32B
2024
Current account balance ranking
26/190
2024
130/190
2024
Current account balance, % of GDP
+1.69%
2024
-18.7%
2024
Goods imports
$223B
2024
$3.46B
2024
Goods exports
$248B
2024
$383M
2024
Service imports
$56.4B
2024
$1.89B
2024
Service exports
$53.4B
2024
$5.03B
2024
Imports of goods and services, % of GDP
66%
2024
78.3%
2024
Exports of goods and services, % of GDP
71.3%
2024
78.2%
2024

Economic freedom indices

The indices of economic freedom below are issued by the Heritage Foundation. Higher scores indicate stronger economic health.

Malaysia Maldives
Economic freedom 68 47.6
Economic freedom ranking 51/197 174/197
Property rights 62.7 52.2
Government integrity 52.9 41.9
Judicial effectiveness 63.4 39.3
Tax burden 83.5 89.9
Government spending 82 39.5
Fiscal health 62.5 0
Business freedom 79.6 49.7
Labor freedom 55.4 54.1
Monetary freedom 80.8 76.4
Trade freedom 83 62.8
Investment freedom 60 35
Financial freedom 50 30

Economic freedom comparison by year

Malaysia
Maldives
1x
Year Economic freedom index
Malaysia Maldives
2026 68 47.6
2025 67.1 48.3
2024 65.7 47.8
2023 67.3 46.6
2022 68.1 47.3
2021 74.4 55.2
2020 74.7 56.5
2019 74 53.2
2018 74.5 51.1
2017 73.8 50.3
2016 71.5 53.9
2015 70.8 53.4
2014 69.6 51
2013 66.1 49
2012 66.4 49.2
2011 66.3 48.3
2010 64.8 49
2009 64.6 51.3
2008 63.9 -
2007 63.8 -
2006 61.6 -
2005 61.9 -
2004 59.9 -
2003 61.1 -
2002 60.1 -
2001 60.2 -
2000 66 -
1999 68.9 -
1998 68.2 -
1997 66.8 -
1996 69.9 -
1995 71.9 -

Data sources: The Heritage Foundation | Economic Freedom Index (1995–2026, retrieved 2026-03-09).

GeoRank.org/economy/malaysia/maldives | CC BY

The Economic Freedom Index for Malaysia is 68, ranking 51/197, compared to 47.6 for Maldives, ranking 174/197. The chart above displays a comparison of annual changes in economic freedom indexes.

Other economic metrics

Malaysia Maldives
Services, % of GDP
53.7%
2024
72.1%
2024
Industry, % of GDP
37%
2024
9.2%
2024
Agriculture, forestry, and fishing, % of GDP
8.13%
2024
3.84%
2024
GNI, Atlas method
$414B
2024
$6.15B
2024
GNI per capita, PPP
$37,450
2024
$23,400
2024
Total reserves including gold
$116B
2024
$674M
2024
Total reserves ranking
24/177
2024
150/177
2024
Net foreign direct investment
-$2.55B
2024
-$806M
2024
Net inflows of foreign direct investment
$15.6B
2024
$806M
2024
Net outflows of foreign direct investment
$13B
2024
$0
2024
Servicing debt to the IMF, % of GNI n/a
7.95%
2024
Poverty at national poverty lines
5.8%
2023
15%
2020
Gross capital formation, % of GDP
22%
2024
30.8%
2024

GDP per capita map

1x

Data sources: World Bank | Economy & Growth (1985–2024, retrieved 2026-04-06); U.S. Census Bureau (1985–2024, retrieved 2026-02-08).

GeoRank.org/economy/malaysia/maldives | CC BY

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Data sources:

  1. World Bank | Economy & Growth (1960–2024, retrieved 2026-04-06)
  2. International Monetary Fund (IMF) | Fiscal Monitor (1990–2024, retrieved 2026-02-20)
  3. The Heritage Foundation | Economic Freedom Index (1995–2026, retrieved 2026-03-09)
  4. U.S. Census Bureau (1985–2024, retrieved 2026-02-08)
  5. TradeMap (2023–2024, retrieved 2026-02-08)
  6. International Monetary Fund (IMF) | Public Finances in Modern History (1990–1996, retrieved 2026-02-20)
  7. United Nations | World Population Prospects (2026, retrieved 2026-03-10)
  8. LivingCost (2026, retrieved 2025-10-14)
  9. Central Intelligence Agency (CIA) (2020, retrieved 2026-02-20)

Creative Commons Attribution (CC BY) — you’re free to copy, share, remix, adapt, and use even commercially as long as you give appropriate credit and clearly indicate if you made changes. Other sources may be subject to different license terms.

The current account balance is the sum of net trade in goods and services, net earnings from cross-border investments, and net transfer payments. It reflects a country's economic transactions with the rest of the world and is a fundamental component of the balance of payments. A surplus indicates that a country exports more than it imports, while a deficit shows the opposite.

Gross National Income (GNI) measures a country's total income. It encompasses income earned by residents, businesses, and foreign sources, defined as employee compensation and investment profits. GNI adds product taxes not included elsewhere and subtracts subsidies. It accounts for income from residents working abroad but excludes earnings from foreigners within the country.

A negative value for Net Foreign Direct Investment indicates a country is a net receiver of investments, as foreign inflows exceed outflows after Balance of Payments adjustments. A positive value indicates a net provider, with outflows exceeding inflows. Inflows are credits (increasing foreign claims on domestic assets), while outflows are debits (increasing domestic assets abroad).

Foreign direct investment (FDI, net inflows) shows how much capital foreign investors bring into a country after accounting for any funds that flow back in the opposite direction. It represents the net value of overseas companies establishing, expanding, or financing businesses in the reporting country. A positive number means more capital entered the country than was withdrawn, while a negative number means foreign investors pulled out more than they invested.

Foreign direct investment (FDI, net outflows) shows how much capital residents of a country invest abroad after accounting for any funds that flow back in the opposite direction. It represents the net value of domestic companies establishing, expanding, or financing businesses in other countries. A positive number means more capital was invested abroad than withdrawn, while a negative number means residents pulled back more than they invested.

Principal and interest payments to the IMF in currency, goods, or services on long-term debt expressed as a share of GNI.

Formerly gross domestic investment, gross capital formation measures the share of a country’s economic output invested in fixed assets, including buildings, machinery, and infrastructure. It indicates how much of the economy is devoted to building productive capacity.